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Should the fiscal cliff be considered "Impasse"?

When Union negotiations fail they go into impasse. The previous contract stands. Shouldn't the tax code stay the same now that the dead lines have past. The taxes are due Jan.15th. and there's no way for CPA's or Tax Accountants to have understanding let alone the individual. For example will fines and penalties be waived in the case of this programed failure to comply.

Update:

These talks are for this tax period, The forms haven't even been printed. They are due 1/15/13 with grace until 4/15/13. Tax Accountants find this appalling as do I. Not to mention Turbo Tax.

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  • 8 years ago
    Favorite Answer

    Well, it would appear that now things are in motion, at least for the time being. The direction things are moving in, on the other hand, if what I saw on Fox News this morning is any guide, is that the ratio of tax hikes to spending cuts in the Senate "compromise" is approximately 41:1. And even this ratio doesn't mention whether the "cuts" are actual cuts but rather Washington-style "cuts" (translation: reductions in the rate of spending growth).

    I have also checked out some other sources online. According to Joel Pollak, who took over the Breitbart network of websites after Andrew Breitbart's death ten months ago, here are some details that on the deal:

    http://www.breitbart.com/Big-Government/2013/01/01...

    And whatever comes to pass ultimately (since this deal has yet to go through the House), one thing you can be sure of is that the tax code, which is already ridiculously complicated, will only grow more complicated still. (I honestly pity those who have the job of programming the online tax programs that many taxpayers now use to get their taxes paid.)

    Therefore, the fiscal cliff situation as of now is not an impasse at this point so much as a churning whirlpool of Washington-style politics. It's questionable to me, frankly, how much our Congress today truly is a deliberative body. Senator Ron Johnson (R-WI) has characterized the Senate as essentially being an "alternate universe," according to Bridget Johnson yesterday at PJ Media:

    http://pjmedia.com/tatler/2012/12/31/conservative-...

  • 8 years ago

    Folks, you are being fooled, used, lied to, by your gov officials, the media, Hollywood and the schools.

    These people are simply actors, playing out parts already rehearsed. Everyone who pays taxes will pay more taxes, no matter what they say on mike.

    Obama states 98% of the people will pay more taxes if something is not done. WELL, we all know 47% of the people do not pay ANY tax. LIED!

    They are making a deal in the Senate, FINALLY. After 4 years of doing NOTHING, they are making a deal. RIGHT!!!

    The House states they are not going to vote on it. Since it is NOW Jan 1st, and they are saying it is NOT required to vote on it yet, must be another LIE about the so called fiscal cliff, right?

    You can consider the fiscal cliff whatever you want, since you ARE going to pay more taxes, no matter what they decide.

  • 8 years ago

    Taxes for 2013 aren't due until April 2014.

    A problem I see with this is that gives one party too much power. For example, with impasse then there would be no need for Republicans to negotiate on the Bush tax cuts for infinity.

  • 8 years ago

    Everything is in limbo. Nobody knows what the rules are or are going to be.

    But by April 15th, I assume we will know what the deal is. Meanwhile, Americans are uncertain, so everything is on hold. Has it not been so for the last several years during the Marxist takeover?

    Welcome to the Twilight Zone.

    EDIT: Nah, a deal will be worked out. They missed the deadline but sometime early in January they will fix it. Fear Not! Even the GOP favors extending unemployment bennies for another year. That'll prevent the Federal buildings in every city from being surrounded by pitchforks and torches and angry crowds.

  • Frank
    Lv 7
    8 years ago

    Nope. The other laws had expiration dates, for instance: the rates were supposed to return to what they were before the cuts.

    The sequestration legislation explicitly called for massive cuts to begin on January 1st, if no other agreement could be reached.

  • 8 years ago

    No. You are misusing the English language. I'm guessing that you're a conservative.

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